Xiaomi to invest $15 bn in research and development

Xiaomi is planning to invest over $15 billion into research and development (R&D) over the next five years.
Xiaomi store in rural IndiaXiaomi Chairman and founder Lei Jun said that the company’s goals for investment into R&D in the next 5 years have been increased to 100 billion Yuan (around $15 billion) from 50 billion Yuan set earlier.

Xiaomi has already invested 22 billion Yuan over the past two years. Xiaomi has 16,000 engineers to work on research and development.